KULR launches Bitcoin treasury with $21m BTC purchase
The $21 million BTC purchase follows the KULR’s announcement on Dec. 4. Other companies to launch a Bitcoin treasury strategy in recent weeks include Rumble, Marathon Digital, Semler Scientific and Thumzup. MicroStrategy is the biggest corporate holder of Bitcoin with over 444k BTC KULR Technology Group, Inc., listed on the New York Stock Exchange, is the latest tech company to adopt Bitcoin as a treasury asset. A few weeks after the energy management platform announced plans to add BTC to its treasury, the company announced on Dec. 26 that it had officially begun the initiative. KULR said in a press release that its first purchase involved 217.18 bitcoin acquired for $21 million. KULR’s bitcoin bag was acquired at the average purchase price of $96,556.53 per BTC. On Dec. 4, when the publicly-listed company disclosed its Bitcoin treasury strategy, it revealed plans that included allocating up to 90% of the firm’s surplus cash to the flagsh...